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Teach your child the value of money
At a Glance
We have designed this short activity to help you teach your child the value of money. This activity will help your child learn that money must be earned, and they should be responsible when handling it.
Your 7 - 9 year old
It will take:
Blank to-do list, pencil & eraser
Appreciation for the value of money
Responsibility and discipline through goal setting and planning
Tick tasks oﬀ as they’re completed, so your child sees how much he/she has earned.
Do check on your child’s work occasionally. But we think it’s best if you give them a degree of trust to cultivate their independence and sense of responsibility.
Much like parents work to earn salary every month, treat it like a play, or role-play, with your child so that the concept is not intimidating to him/her.
As part of this lesson, you can also encourage your child to save any unspent allowance money into a savings account such as a POSB My Account. This cultivates a good savings habit from a young age, and your child can see the savings grow as he/she grows!
Come to an agreement that they must earn all future allowance increases. Treat this like a kind of role-play with your child so that the concept is not intimidating to him/her.
|Safeguard your child's allowance!|
Grow your child’s savings!
|Keep your child’s hard-earned allowance safe in a POSB My Account – it will meet all their needs, for life! |